CytoSorbents Q1 product sales flat at $7.9M; STAR-T enrollment on track; cash burn cut to $3.1M

Cytosorbents Corp

2023-Q1 EPS reported -$0.17 revenue$9,449,496

Q1 product sales $7.9M flat YoY; core constant currency sales +8.3% to $8.3M; total revenue $9.4M (+9%).
Product gross margin fell to 68% from 80% due to new manufacturing facility start-up costs.
STAR-T trial enrollment at 80 patients (March milestone); expects enrollment completion summer 2023, topline data by year-end.
Cash burn reduced to $3.1M from $9.1M YoY; cash $20.7M (incl $1.7M restricted); expects no material capex.
Chairman Al Kraus retiring June 2023; Michael Bator to succeed as Chairman.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Cytosorbents Corp reported First Quarter 2023 results: revenue Total revenue, including product sales and grant income, for Q1 2023 was $9.4 million.

Period: First Quarter 2023
Revenue: Total revenue, including product sales and grant income, for Q1 2023 was $9.4 million
Result: reported results

Exact text from the filing

Today reported unaudited financial and operating results for the quarter ended March 31, 2023. First Quarter 2023 Financial Results · Total revenue, including product sales and grant income, for Q1 2023 was $9.4 million

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Source: SEC EDGAR

accession 0001104659-23-055102

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